"The idea of preparedness is still essential to what we do,"
said Nichol, Leatherman's chief executive. "That will continue to be a paramount
theme for folks."

The future is on the mind of a lot of people at Leatherman
these days. Having led the Portland
toolmaker since 2005, Nichol plans to retire from the company Aug. 5, the day
before he turns 62 years old.

Why now? "It's time for me to pursue other passions," said Nichol,
whose departure was first reported in the Portland Business Journal. "That's my
simple answer."

Contributing to the decision, he said, is a desire to take a
break from running companies.

He's been doing that since 1988, when he was named CEO of
Stanley Proto Industrial Tools in Georgia at the grand ol' age of 35. In 1997, after
rising to president of Stanley Mechanics Tools in Connecticut, he left there to
be president of the Danaher Tool Group in Maryland – and eight years later he
left there for Leatherman.

Shortly after arriving at Leatherman, Nichol realized the
need to offer a product line that appeals to people who may not have been born
when Tim Leatherman launched his multi-tool company in 1983. Within three years
of his arrival, the company more than tripled the number of products – from 11
to 39 – adding pruners for gardeners and a plethora of knives.

Today the company offers more than 40 products, a mix dominated
by variations on the granddaddy of them all, the PST, the original Leatherman
tool, with its distinctive pliers up front and folding tools in back.

But the product list also includes an array of pocket tools
aimed at snowboarders (the Hail and the Rime), skateboarders (the Grind and the
Jam), mountain bikers (the Mako) and surfers (the Thruster). Each tool is
designed to perform functions specific to those sports.

In 2012, Leatherman acquired the PocketToolX Co., a
Seattle-based single-piece multi-tool. Company officials said at the time the
tool would be part of Leatherman's expanded line of pocket tools.

"Like every industry we have the
grown kids who've seen their parents and grandparents use (the Leatherman),"
Nichol said. "We're trying to capture them. Younger people don't carry a
(leather) sheath. Most kids don't wear a belt anymore."

Nichol said Leatherman has
distinguished itself from competitors, some of them based in the Portland area,
through product quality.

"Mechanical function is hard to make," he said.

The company employs about 700
people in Oregon, with manufacturing at the headquarters on 12106 N.E. Ainsworth Circle, a small
machining and stamping facility on Northeast Marx Street (the first location of
Leatherman Tools) and a shipping and storage facility on Northeast 152nd Place.

Leatherman Tool Group Inc. also
owns LED LENSER, a German flashlight company.

Tim Leatherman remains chairman
of the privately held company, stepping aside from day-to-day leadership after
Nichol's arrival. Nichol declined to reveal financial data, but said 2013 tool
group sales were up 16 percent over 2012 and sales for LED LENSER were up 10 percent for that span.

After his departure in August,
Nichol said Benjamin Rivera, appointed last July as Leatherman Tool president,
would lead that division. Rakesh
Sridharan will continue in his role as President of LED LENSER.

In the challenge of distinguishing
its products in marketing, Nichol said he did not envision Leatherman employing
a celebrity spokesman. That was a not-so-subtle dig at crosstown rival Gerber
Legendary Blades, which in recent years has had TV adventurer Bear Grylls
endorse its knives and multi-tools.